The Baltic Dirty Tanker Index (BDTI) has surged to the highest level in four months as a broad surge in VLCC rates combined with more modest rebounds in aframax and suezmax markets.

The index rose to 1,554 points on Friday, up from 1,475 logged a week earlier and from the low of 1,083 reached in May, after the indicator lost some of the gains made in the wake of Russia’s invasion of Ukraine.